forboon (OP)
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April 12, 2014, 03:47:52 PM |
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I have pulled out certain quotes so as to highlight the true esoteric meaning of both ideal money and bitcoin. http://sites.stat.psu.edu/~babu/nash/money.pdfHear it from Nash/Satoshi themselves... Think about bitcoin when you read it, and please read the whole thing (above) and pass it to someone with greater effect than I, it took 40 years to recognize this man the first time So I wish to present the argument that various interested and groups, notably including "Keynesian"economist, have sold to the public a "quasi-doctrine" which teaches, in effect, that "less is more" or that (in other words) "bad money is better than good Money". Here we can remember the classic ancient economics saying called "Gresham's law" which was "the bad money drives out the good". The saying of Gresham's is mostly of interest here because it illustrates the "old" or "classical"concept of "bad money" and this can be contrasted with more resent attitudes which have been very much influenced by the Keynesians and by the results of their influence on government policies since the 30s.
And such views can have the effect that an ideal of good money does not seem such a good cause as an ideal of a good pulic water supply
Our view is that if it is viewed scientifically and rationally that money should have the function of a standard of measurement and thus that it should become comparable to the watt or the hour or a degree of temperature.
It was the observation of a new "line" that has become popular with those responsible of "central banking" functions relation to national currencies that gave us the idea for the study of "asymptotically ideal" money.
In the USA the standard domestic "cost of living" index has a long history and it actually originated back in the days when the USA was still on the "gold standard" with regard to the monetary standards being accepted then.
In the near future there may be a smaller number of major currencies used in the world...And there could be introduced, for example, a similar international currency...
And if "inflation targeting" were used as a "line" ..each of the currencies managed thusly would have its officially recognized status in terms of inflation as measured by the domestic index of costs of the state of the managers.
And so the various currencies managed with "inflation targeting" would be comparable by users or observers who would be able to form opinions about the quality of the currencies.
So here is the possibility of "asymptotically ideal money" Starting with the idea of value stabilization in relation to a domestic price index associated with the territory of one state, beyond that there is the natural and logical concept of internationally based value comparisons.
..It is sometimes remarkable how political context can evolve.
And this parallel makes it seem not implausible that a process of political evolution might lead to the expectation on the part of citizens in the "great democracies" that they should be better situated to be able to understand whatever will be the monetary policies which, indeed are typically of great importance to citizens who may have alternative options for where to place their "savings". This is the same man that wrote to the nsa in 1950 saying on the topic of encryption he cannot lose. the same man that created the theory from which we develop game theory and therefore war strategy. The man that explained the value of money in his paper 'the bargaining problem' and now the man that explained the value of hyper currency in his papers ideal money and bitcoin:
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bountygiver
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April 13, 2014, 08:09:23 PM |
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It is still far from ideal, it has many flaws that still need to be fixed. But bank notes have lots of flaws either and the big flaw there is physical currency is harder to fix than digital currency.
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12dXW87Hhz3gUsXDDCB8rjJPsWdQzjwnm6
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spearshake23
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May 04, 2014, 12:51:12 PM |
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yes, bitcoin great money for online payments, no chargeback
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hilariousandco
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May 04, 2014, 12:56:12 PM |
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It is still far from ideal, it has many flaws that still need to be fixed. But bank notes have lots of flaws either and the big flaw there is physical currency is harder to fix than digital currency.
I agree it's far from ideal, but I'm not sure what it's many flaws are. Obviously the price fluctuations currently don't make it ideal as a currency, but that's not really anything to do with the Bitcoin but what people peg it to and are prepared to pay for it.
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bryant.coleman
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May 04, 2014, 01:02:17 PM |
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yes, bitcoin great money for online payments, no chargeback
That said, this feature is having its own advantages and disadvantages. What if the merchant is selling a substandard product? They buyer will not be able to get a refund for that.
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hilariousandco
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May 04, 2014, 01:05:57 PM |
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yes, bitcoin great money for online payments, no chargeback
That said, this feature is having its own advantages and disadvantages. What if the merchant is selling a substandard product? They buyer will not be able to get a refund for that. I guess that's where a payment processor might come in, but I agree it does have its disadvantages too. Say what you want about PayPal but if you don't receive a product you'll get your money back pretty easily, but it's this advantage that is also abused by scammers and fraudsters.
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martinnew
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May 04, 2014, 02:40:42 PM |
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I think it is an ideal online money since very low fee for transactions an instant. Although there could be disadvantages too such as mentioned, hard to get back money if there will be a problem with the seller.
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elavenil
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May 04, 2014, 03:39:10 PM |
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Yes , For my use it is ideal. I almost stopped using my credit card and paypal after using Bitcoin. But still bitcoin needs more growth and acceptance.
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sclaggett
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May 04, 2014, 03:44:53 PM |
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The basic concept is great as a universal currency but price fluctuations make it challenging. If you buy a currency you wake up the next day and the 40units you bought are still 40 units. With bitcoin you could wake up and there are 37 units and you didn't spend it on anything. That is very hard for the average consumer to accept.
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elavenil
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May 04, 2014, 03:59:16 PM |
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The basic concept is great as a universal currency but price fluctuations make it challenging. If you buy a currency you wake up the next day and the 40units you bought are still 40 units. With bitcoin you could wake up and there are 37 units and you didn't spend it on anything. That is very hard for the average consumer to accept.
Yes it is problem, But in long term price will stabilize.
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Meuh6879
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May 04, 2014, 04:06:59 PM |
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Is bitcoin Ideal money? If i have bitcoin I use exchange I use SEPA I use Paypal I can buy So yes, Bitcoin is money (or currency). In 2013 ? No ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
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igorr
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May 04, 2014, 04:12:59 PM |
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Bitcoin is not money !
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Cлaвьcя, Oтeчecтвo нaшe cвoбoднoe, Бpaтcкиx нapoдoв coюз вeкoвoй, Пpeдкaми дaннaя мyдpocть нapoднaя! Cлaвьcя, cтpaнa! Mы гopдимcя тoбoй!
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elavenil
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May 04, 2014, 04:30:22 PM |
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Bitcoin is not money !
Why it is not money?
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martinnew
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May 04, 2014, 04:35:18 PM |
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Bitcoin is not money !
Just curious why it is not a money for you? It is a virtual money.
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igorr
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May 04, 2014, 04:38:31 PM Last edit: May 04, 2014, 04:51:53 PM by igorr |
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Bitcoin is not money !
Just curious why it is not a money for you? It is a virtual money. It not money for anybody, These are just speculations and lies, bitcoin no have real value.
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Cлaвьcя, Oтeчecтвo нaшe cвoбoднoe, Бpaтcкиx нapoдoв coюз вeкoвoй, Пpeдкaми дaннaя мyдpocть нapoднaя! Cлaвьcя, cтpaнa! Mы гopдимcя тoбoй!
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elavenil
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May 04, 2014, 04:58:19 PM |
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Bitcoin is not money !
Just curious why it is not a money for you? It is a virtual money. It not money for anybody, These are just speculations and lies, bitcoin no have real value. Bitcoins value may rise or fall. But i don't accept it has no value. Right now bitcoin has a value of $430.
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CoinRocka
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May 04, 2014, 05:17:16 PM |
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Bitcoin is not money !
Just curious why it is not a money for you? It is a virtual money. It not money for anybody, These are just speculations and lies, bitcoin no have real value. If no value, then why engage? The fact that you are here and debating bitcoin makes you a walking, talking oxymoron.
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igorr
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May 04, 2014, 05:25:24 PM |
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Bitcoin is not money !
Just curious why it is not a money for you? It is a virtual money. It not money for anybody, These are just speculations and lies, bitcoin no have real value. Bitcoins value may rise or fall. But i don't accept it has no value. Right now bitcoin has a value of $430. currently, But for 24h his value can easily be, $200, $100 or Zero, While with the real money is not the case. With bitcoin you can not pay; House,cars, VW,BMW,Mercedes,Ferari,cigarettes,milk,bread,gasoline, taxes, electricity, water bills,taxi. Bitcoin does not serve for nothing, while my credit card is accepted everywhere in the world, and I can buy everything.
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Cлaвьcя, Oтeчecтвo нaшe cвoбoднoe, Бpaтcкиx нapoдoв coюз вeкoвoй, Пpeдкaми дaннaя мyдpocть нapoднaя! Cлaвьcя, cтpaнa! Mы гopдимcя тoбoй!
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igorr
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May 04, 2014, 05:27:07 PM |
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Bitcoin is not money !
Just curious why it is not a money for you? It is a virtual money. It not money for anybody, These are just speculations and lies, bitcoin no have real value. If no value, then why engage? The fact that you are here and debating bitcoin makes you a walking, talking oxymoron. I am forex trader, and I not have any bitcoins, just real cache.
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Cлaвьcя, Oтeчecтвo нaшe cвoбoднoe, Бpaтcкиx нapoдoв coюз вeкoвoй, Пpeдкaми дaннaя мyдpocть нapoднaя! Cлaвьcя, cтpaнa! Mы гopдимcя тoбoй!
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